BUZZ-Oncternal hits record low on plans to scrap studies, explore strategic alternatives;

Reuters
12 Sep 2024

** Shares of cancer therapy developer Oncternal Therapeutics

hit record low, last down 59.32% at $1.69

** Co says it will discontinue its trials studying its experimental cancer therapies ONCT-534 and ONCT-808 and will explore strategic alternatives

** In early stage trial, ONCT-534, which is being studied in patients with metastatic castration resistant cancer, did not show clinically meaningful improvements of disease

** There was one death related to complications of shock at the highest dose tested with ONCT-808

** While the strategic exploration is ongoing, co will discontinue all product development activities and will take other steps to reduce costs, including a workforce reduction to preserve cash resources

** Stock down 85% YTD

(Reporting by Sriparna Roy in Bengaluru)

((Sriparna.Roy@thomsonreuters.com;))

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